So the government has come out with the another round of property stimulus measures, and here are the details:
- On October 22nd, 2019, the Cabinet approved a temporary reduction in transfer fee from 2% to 0.01% and mortgage registration fee from 1% to 0.01% to those home buyers of up to Bt3m/unit. It will last for slightly longer than one year with tentative period of 24 Oct 2019 to 24 Dec 2020.
- This is additional measure to help property market after the Cabinet earlier approved Bt200,000 tax deductible on 1st home purchase with price cap at Bt5m/unit and a cut in transfer and mortgage fee on below Bt1m home purchase.
According to what I’ve read these companies below are the ones with the THB 3 mn or less and the % of inventory.
- LPN’s – Bt6.0bn, accounting for c.72% of total finished inventory
- SPALI – Bt11.0bn or c.18%
- PSH – Bt6.0bn or c.33%
- ORI – Bt4.0bn or c.33%,
- ANAN – Bt5.0bn or c.31%
How often has the government enacted property stimulus measures? Well here’s a table from 2003:
Do they work?
This is where when you do own homework and you’ll able to figure it out 😉